Multibagger stock: Up 500% in 2 years! What's next for RattanIndia Enterprises?

Multibagger return

Shares of RattanIndia Enterprises Limited have delivered over 500% return to its shareholders in the last two years

RattanIndia
Enterprises Limited

RattanIndia Enterprises Limited is the flagship company of Rattanindia Group for its new-age growth businesses. The company offers tech focussed new age businesses including e-commerce, electric vehicles, fintech and drones

RattanIndia in focus

RattanIndia is in focus after the acquisition of 100% shareholding in the electric motorcycles market leader Revolt Motors. Revolt Motors will be a 100% wholly owned subsidiary of RattanIndia Enterprises

About Revolt Motors

Revolt Motors is the highest-selling electric bike in the country with its manufacturing facility in Manesar, Haryana

RattanIndia on D-Street

Shares of RattanIndia hit a 52-week high of Rs 62.30 on January 17, 2022, and a 52-week low of Rs 30.50 on May 12, 2022

RattanIndia share price

Shares of RattanIndia Enterprises ended 14.6% higher at Rs 48.80 on Jan 16. Market cap of the firm rose to Rs 6,745.48 crore

RattanIndia stock:
Should you buy?

According to AR Ramachandran of Tips2trades, the strong resistance is at Rs 50.6 and a daily close above this level could lead to targets of Rs 54-58 in the near term. The support is at Rs 44.5

Analysts on
RattanIndia stock

"The sloping trend on the weekly chart is expected to act as the sturdy wall placed around the Rs 55 level," says Osho Krishan of Angel One Limited

Disclaimer

The stock mentioned in the story is for information purposes only. Investors or market participants should consult their financial advisors before taking any position

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